MALAYSIA'S INFLATION REMAINS AT 2.0 PCT IN JUNE 2024 -- DOSM

KUALA LUMPUR, July 24 (Bernama) -- Malaysia’s inflation remained at 2.0 per cent in June 2024, said the Department of Statistics Malaysia (DOSM).

It said the Consumer Price Index (CPI) was at 133.0 points compared to 130.4 in June 2023.

Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the increase in inflation was driven by the incline in the main group of restaurant and accommodation services of (3.3 per cent), as well as housing, water, electricity, gas and other fuels (3.2 per cent). 

“Inflation for restaurant and accommodation services increased to 3.3 per cent. This was due to the increase in the main subgroup of beverage preparation services to 4.2 per cent.

“Meanwhile, the inflation for housing, water, electricity, gas and other fuels increased at the same rate as the previous month at 3.2 per cent,” he said in a statement today.

The chief statistician said increases were also recorded in personal care, social protection and miscellaneous goods and services (2.8 per cent), as well as food and beverages (2.0 per cent).

“However, clothing and footwear, and insurance and financial services declined to negative 0.1 per cent, respectively, compared to the same month of the previous year,” he said.

Mohd Uzir said the overall monthly inflation for June 2024 recorded an increase of 0.2 per cent, driven by inflation for transport of 0.5 per cent, restaurant and accommodation services (0.3 per cent) and recreation, sport and culture (0.3 per cent). 

Meanwhile, inflation for the second quarter (2Q) of 2024 recorded an incline of 1.9 per cent compared to 1.7 per cent in 1Q 2024. 

“Furthermore, the core inflation increased at 1.9 per cent in June 2024, the same rate as recorded in May 2024, buoyed by the restaurant and accommodation services (3.3 per cent) and food and beverages (2.8 per cent),” said Mohd Uzir. 

Meanwhile, DOSM said most states recorded increases below the national inflation level of 2.0 per cent, but four states recorded increases above the national inflation level, namely Penang (3.3 per cent), Sarawak (2.7 per cent), Pahang (2.7 per cent) and Selangor (2.4 per cent). 

-- BERNAMA